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dc.contributor.authorCappelen, Ådne
dc.contributor.authorRaknerud, Arvid
dc.contributor.authorRybalka, Marina
dc.coverage.spatialNorwaynb_NO
dc.date.accessioned2019-11-12T12:58:45Z
dc.date.available2019-11-12T12:58:45Z
dc.date.issued2013-05
dc.identifier.issn0809-733X
dc.identifier.urihttp://hdl.handle.net/11250/2627962
dc.description.abstractWe address the question of whether the returns to R&D differ between R&D projects funded by public grants and R&D in general. To answer this question, we use a flexible production function that distinguishes between different types of R&D by source of finance. Our approach requires no adjustment of the sample or data in order to include firms that never invest in R&D, in contrast to the standard Cobb-Douglas production specification. We investigate the productivity and profitability effects of R&D using a comprehensive panel of Norwegian firms over the period 2001−2009. The results suggest that the returns to R&D projects subsidized by the Research Council of Norway do not differ significantly from R&D spending in general. Our estimate of the average rate of return to R&D is about 10 percent. This estimate is robust with respect to whether firms with zero R&D are included in the estimation sample or not. In contrast, using a standard Cobb-Douglas specification and restricting the sample of firms to those with positive R&D, leads to implausibly high estimates of the rate of returns.nb_NO
dc.language.isoengnb_NO
dc.publisherStatistisk sentralbyrånb_NO
dc.relation.ispartofseriesDiscussion papers;740
dc.subjectJEL classification: C33nb_NO
dc.subjectJEL classification: C52nb_NO
dc.subjectJEL classification: D24nb_NO
dc.subjectJEL classification: O38nb_NO
dc.titleReturns to public R&D grants and subsidiesnb_NO
dc.typeWorking papernb_NO
dc.description.versionpublishedVersionnb_NO
dc.subject.nsiVDP::Matematikk og Naturvitenskap: 400::Matematikk: 410::Statistikk: 412nb_NO
dc.source.pagenumber32nb_NO


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